EXHIBIT 99.1

For Immediate Release
 
Waste Management Announces Fourth Quarter and Full-Year 2020 Earnings

 

 

 

 

 

 

FOR MORE INFORMATION

 

Waste
Management

 

Web site

www.wm.com

 

 

2020 Financial Performance Demonstrates Strength and Resiliency
Company Maintains Disciplined Focus on Cost and Capital Management
Recent ESG Accolades Complement Strong Financial Results

 

 

Houston — Feb. 18, 2021 —

Waste Management, Inc. (NYSE: WM) today announced financial results for the quarter and year ended December 31, 2020.

 

  Three Months Ended   Year Ended  
  December 31, 2020 December 31, 2019   December 31, 2020 December 31, 2019 Analysts
  (in millions, except per share amounts)   (in millions, except per share amounts) Ed Egl
       
  As
Reported
As
Adjusted(a)
As
Reported
As
Adjusted(a)
  As
Reported
As
Adjusted(a)
As
Reported
As
Adjusted(a)
713.265.1656
eegl@wm.com
                   

Revenue $4,067 $4,067 $3,846 $3,846   $15,218 $15,218 $15,455 $15,455 Media
Janette Micelli
                    602.579.6152

Income from Operations $654 $706 $655 $726   $2,434 $2,650 $2,706 $2,809 jmicelli@wm.com

                   
Operating EBITDA(b) $1,090 $1,142 $1,050 $1,121   $4,105 $4,321 $4,280 $4,383

                     
Operating EBITDA Margin 26.8% 28.1% 27.3% 29.1%   27.0% 28.4% 27.7% 28.4%  

 

Net Income(c)

$438 $481 $447 $507   $1,496 $1,713 $1,670 $1,881  
                     
Diluted EPS $1.03 $1.13 $1.05 $1.19   $3.52 $4.03 $3.91 $4.40  
   
The Company’s fourth quarter results continued the positive momentum from the third quarter, as organic revenue growth in the collection and disposal business was nearly flat year-over-year and improved 250 basis points sequentially and 890 basis points from the low in the second quarter. Additionally, the Company maintained its disciplined focus on cost and capital management. As a result, fourth quarter adjusted operating EBITDA increased 4.1% year-over-year when normalized to exclude the acquisition of Advanced Disposal as well as timing differences in the government approvals of alternative fuel tax credits.(a) This growth was achieved despite macroeconomic challenges stemming from the COVID-19 pandemic.  
   
“I am extremely proud of how our team worked through the challenges during 2020 to provide reliable, high quality service, and continued to do so as we welcomed new customers and team members following our acquisition of Advanced Disposal,” said Jim Fish, Waste Management’s President and Chief Executive Officer. “Our focus on operational execution and efficiency allowed us to match the highest full-year adjusted operating EBITDA margin we have ever achieved at 28.4%.(a) So, in a year where many companies suffered significant financial impacts from the pandemic and resulting economic crisis, Waste Management delivered full-year 2020 results within 1.5% of our record-high 2019 adjusted operating EBITDA.(a)  
   
“Complementing our strong financial performance is the recognition that we continue to receive for leading the way to a more sustainable future. Fortune magazine recently named Waste Management to its 2021 World’s Most Admired Companies List, and for the fifth consecutive year, CDP included Waste Management on its ‘A List’ for climate leadership. We remain committed not only to managing waste responsibly but also investing in recycling infrastructure and renewable energy projects and collaborating with our stakeholders to create new, sustainable environmental solutions.”  

 


The following information was filed by Waste Management Inc (WM) on Thursday, February 18, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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